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The Bitcoin price dropped 1.89% in the last 24 hours to trade at $64,751 as of 00:08 a.m. EST on trading volume that surged 32% to $98 billion.
This comes after Bitcoin dropped to $59,000 shortly after hitting a new all-time high of $69,324, and is trying to recover from the drop. The correction is attributed to the sale of a huge amount of BTC that was mined back in 2010.
Bitcoin Price Bulls Sustain the Bullish Momentum
The Bitcoin price continues to surge, even after touching the support zone at $59,000. The brief consolidation of around $50,000 allowed the bulls to drive the price up through a markup phase, past the $63,408 resistance, as it soared to $69,324.
Some selling pressure may have allowed for a retrace, but the bulls seem resilient as they try to reclaim the high.
BTC is trading above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish sentiments. The Relative Strength Index (RSI) is currently on a rebound, trading at 53 as it heads to the overbought region. Pushing the RSI into the overbought region could sustain the bullish outlook for BTC.
Furthermore, the Moving Average Convergence Divergence (MACD) is in support of the recent correction, as the moving average line (blue) crosses slightly below the signal line (orange). The red bars on the histogram are also in support of this, as they form slightly below the zero line.
However, the MACD is still trending above the neutral line, which indicates a looming rebound to the upside. The Stochastic Oscillator 14 3 3 line (green) crosses above the trigger line (orange), which is a confirmation of the bullish moving average crossover and a signal of bullish momentum.
Bitcoin Price Prediction
The Bitcoin price analysis shows a bullish bias, set to reclaim the $69,294 mark, as the bulls aim to breach the upper boundary of the bullish pennant to the psychological threshold set at $72,000.
Additionally, the RSI and the Stochastic Oscillator offer the bulls some ground as they aim to push the price. The 50-day SMA is also trading above the 200-day SMA, forming a golden cross at $42,875, further supporting the bullish prospect of the BTC price.
However, the MACD is trending downward towards the neutral line. If the indicator crosses down below the zero line, this may trigger a price retrace back to the support zone at $61,081, which offers a cushion against downward pressure.
As the Bitcoin price surges to reclaim its record high, investors are also considering Green Bitcoin as a worthy alternative.
Green Bitcoin Presale Is Heating Up – Best Alternative To Bitcoin To Buy Now
Green Bitcoin (GBTC) has introduced the Gamified Green Staking concept into the crypto market and continues to create excitement. The buzz around the trend is evident in its presale, which has already garnered over $1.92 million in early funding as it hurtles towards the $1.97 million target.
Introducing Green Bitcoin: A Revolutionary Predict-To-Earn Token.
Join us on our Gamified Green Staking Platform, where your predictions can turn into profits!
Website: https://t.co/dG5cEeCtRs
Telegram: https://t.co/bWanoe0vHv pic.twitter.com/eXuGQBkxio— GreenBitcoin (@GreenBTCtoken) December 3, 2023
Green Bitcoin is an eco-friendly alternative to Bitcoin, combining the reputation behind BTC with the environmental sustainability of the Ethereum blockchain. The project utilizes Ethereum’s Proof-of-Stake (PoS) consensus mechanism to significantly lower energy consumption as compared to Bitcoin’s Proof-of-Work (PoW) model.
Buy $GBTC Now, Stake For 189% Annual Rewards
You also can stake your $GBTC and earn an impressive 189% annual percentage yield. There are over 3 million $GBTC tokens that have already been staked.
Did you know you can earn HUGE, simply by staking your Green Bitcoin?
If you haven't yet, go to our website and check out the Staking feature! pic.twitter.com/6wiv99ER0O
— GreenBitcoin (@GreenBTCtoken) February 25, 2024
There’s also an opportunity to earn through the project’s Predict-to-Earn feature, where you participate in daily BTC price prediction challenges. Rewards are distributed every 10 minutes and $GBTC acts as the stake and the reward token.
Jacob Bury, a prominent crypto YouTuber, says Green Bitcoin has the potential to surge 10X on launch.
To join, simply purchase $GBTC at the discounted price of $0.6122 before it increases in less than four days.
You can buy $GBTC from the official Green Bitcoin website and exchange ETH or USDT for $GBTC tokens. You can also buy directly using your bank card.
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